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Electrolux's $3.3 billion acquisition of GE Appliances falls through

Discussion in 'General Business and Entrepreneurship' started by EF-Roger, Dec 7, 2015.

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  1. EF-Roger

    EF-Roger Member

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    Shares in Sweden's Electrolux slumped more than 10 percent on Monday after a $3.3 billion deal to buy General Electric's appliance business fell through.

    Announcing the deal in autumn last year, Electrolux said its biggest ever acquisition would double its sales in the United States and step up the challenge to arch rival Whirlpool in the world's largest appliance market.

    But the U.S. Department of Justice (DOJ) said the deal would reduce competition and drive up prices, and asked a federal court in July to stop it from going ahead.

    Read more Electrolux's $3.3 billion acquisition of GE Appliances falls through
     

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